Frank McKenna pledges big money to small university

Frank McKenna, deputy chair of Wholesale Banking at TD Bank Group, and former premier of New Brunswick and Canada’s Ambassador to the United States, spoke at a Greater Sudbury Chamber of Commerce luncheon in Sudbury, Ont., on Tuesday, Sept. 16, 2025. Photo by John Lappa /Postmedia

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He was one of eight siblings, a poor New Brunswick farmboy who scraped his way into university and went on to a storied political career that saw him touted as a potential prime minister and ascend the highest levels of Bay Street finance.

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On Saturday, Frank McKenna, the former Canadian ambassador to the United States, pledged $20 million to his alma mater, St. Francis Xavier University (StFX) in Antigonish, N.S.

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“The scholarships will be the largest in the country,” McKenna told National Post shortly before the announcement was made public. “The program will be large and prestigious and should attract the strongest students in the country, both academically and in terms of their leadership skills.”

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The McKenna Scholarship Program will transcend specific disciplines and be awarded across all StFX faculties, including arts, science and business. McKenna viewed the endowment as a means of making post-secondary education more accessible and encouraged Canadians across the country to consider StFX and other Maritime schools that might not be front of mind for students in major cities.

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McKenna, now chairman of Brookfield Asset Management, remains grateful for everything StFX has done in his life and credits the university with setting him on a path to long-lasting career and family success.

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“I’ve been hugely blessed in my life. I come from a very poor farming family in New Brunswick, a large family of 10. I was able to go from that background to be honoured as premier of the province of New Brunswick, and later became blessed to become ambassador for Canada,” he said. “I just am hugely grateful for those blessings and I wanted to give back to my country and back to my region.”

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McKenna graduated from StFX with a bachelor of arts in 1970 and served as president of the students’ union during his time on campus. His family roots continue to run deep at the Antigonish campus. His wife, children and several of their spouses are alumni. Today, McKenna said, five of his grandchildren are also at the university.

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“I’ve got two grandchildren graduating, so I don’t want to diminish: that’s why we’re all here,” he joked ahead of their convocation ceremony in May, where he is to speak. “We’ve had a strong emotional connection to that institution because it’s been a huge part of our lives during our formative years.”

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Following his undergraduate studies at StFX, McKenna pursued a graduate degree in political science at Queen’s University and then attended the University of New Brunswick Law School. McKenna built a promising career as a lawyer and is best known for successfully defending boxing champion Yvon Durelle against a murder charge in 1977.

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In 1982, McKenna entered provincial politics as a Liberal and won a seat in the New Brunswick legislative assembly. Five years later, McKenna became premier and, true to his word, resigned precisely 10 years after that. Upon leaving public office in 1997, he spent nearly a decade in the business world, serving on corporate boards and as legal counsel for various law firms.